However, the success of your project will depend on factors like location, renovation costs, and market timing.Many investors have found great success by focusing on high-demand neighborhoods with strong buyer interest.

In the future, I’ll factor in contractor costs more.

We offered 407 and asked for closing costs.

Hey Peter, After working with several PMs I decided to manage myself using the online tools.

Both sides also need to factor in opportunity cost.

Sure it will cost a bit more but if the numbers work, the numbers work.

Add 2 points and a processing fee for the broker an underwriting fee for the lender and various and sundry closing costs and you're golden.

There are really great REI opportunities in different markets - markets in the Midwest and Southeast of the country are particularly lucrative - where not only are the purchase prices reasonable for most RE investors, but the homes are turnkey (new builds or completely rehabbed homes, tenant ready, systems 10 years of life remaining on them, property management teams in place) with appreciating home value AND appreciating rent.

You are correct in your assumption that it will impact how low they can go on the down payment, though, b/c commissions will need to be paid out of closing costs. 

Quote from @Josh Jung: surprised you haven't heard of RBP. it's like a mix of services you can offer to your tenants like renters insurance, virtual concierge, etc So the property manager/landlord pays for their renters insurance, and filters?